my timesThe Korea Times

Economy

PolicyCryptocurrencyOthers
  • Economy

    MSCI keeps Korea off developed market watchlist, but global analysts stay bullish

    MSCI's decision to keep Korea off its watchlist for potential inclusion in the Developed Market Index has pushed back expectations for index-driven inflows, but analysts say the setback does little to weaken investors' constructive view of the country's stock market, which remains underpinned by artificial intelligence (AI)-related momentum. Wee Khoon Chong, APAC macro strategist at BNY, noted that the Korean stock market is in a favorable position thanks to AI-related growth momentum, even without inclusion in the Developed Market Index. "Inclusion in the MSCI Developed Market Index would be welcomed, bringing additional passive inflows, but a status quo MSCI decision would not change investors' constructive investment thesis on South Korea," he added. Korea was not added to MSCI's Developed Market Index watchlist in its 2026 market classification review, announced Wednesday. MSCI noted that underlying issues raised by global investors "have not been fully resolved." Korea was first included in the Emerging Markets Index in 1992 and was placed on MSCI's watchlist for potential inclusion

    2 MIN READBy Lee Yeon-woo
    MSCI keeps Korea off developed market watchlist, but global analysts stay bullish
  • Economy

    KOSPI rebounds from sharp sell-off on Samsung buyback hopes

    2 MIN READBy Lee Yeon-woo
    KOSPI rebounds from sharp sell-off on Samsung buyback hopes
  • Economy

    Retail sales rise 9% in May amid improving consumer sentiment

    1 MIN READBy Yonhap
    Retail sales rise 9% in May amid improving consumer sentiment
  • Economy

    Seoul to continue push for MSCI developed market status bid after remaining in emerging category

    2 MIN READBy Yonhap
    Seoul to continue push for MSCI developed market status bid after remaining in emerging category
  • Economy

    Korean won slumps against US dollar on expectations of Fed rate hike

    1 MIN READBy Yonhap
    Korean won slumps against US dollar on expectations of Fed rate hike
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Read more

Economy

Woori set to vindicate CEO over Lime fiasco

From left are Woori Financial Group Chairman Son Tae-seung and Shinhan Bank CEO Jin Ok-dong. Courtesy of each firmBy Lee Min-hyungWoori Financial Group plans to make group-wide efforts to mitigate tough sanctions slapped on its Chairman Son Tae-seung over its involvement in a nationwide fund mis-selling fiasco last year.The Financial Supervisory Service (FSS) recently reprimanded the Woori chief for his poor supervision of fund sales linked to Lime Asset Management. The financial regulator originally intended to suspend Son from duty, which would have been a harsher punishment; but the reprimand is still considered quite substantial in the industry.Woori is set to keep trying to prove that the group's involvement in the mis-selling of fund products was not intentional until the Financial Services Commission (FSC) makes its final decision on the punishment. Mis-selling in the financial sector refers to the sale of an investment product to customers without explaining the full range of potential risks.“Woori Bank, as a seller of the troubled Lime funds, could not recognize any ri

Apr 9, 2021By Lee Min-hyung
Woori set to vindicate CEO over Lime fiasco
Economy

Korea needs preemptive anti-inflation steps: senior official

gettyimagesbankSouth Korea needs to take preemptive measures to cope with escalating concerns over inflation, a senior government official said Friday.The remark by First Vice Finance Minister Lee Eog-weon comes as Asia's fourth-largest economy faces growing inflationary pressure amid signs of an economic recovery."It is necessary to take preemptive steps to prevent inflationary pressure from constraining an economic rebound and inflicting burdens on ordinary people," Lee told a government policy meeting.He said the government will come up with a plan to import a necessary amount of eggs in May in an effort to stabilize soaring prices as early as possible.The government will further do its best to release its stockpiles of rice and other key farm products in a timely manner in order to stabilize their prices, he added. South Korea's consumer prices grew at the fastest clip in 14 months in March on higher prices of farm and oil products, in the latest sign that inflationary pressure is building up amid an accelerating economic recovery.The consumer price index rose 1.5 percent on-year

Apr 9, 2021
Korea needs preemptive anti-inflation steps: senior official
Economy

Finance minister warns of post-election housing market bubble

Finance Minister Hong Nam-ki speaks during a ministerial meeting to monitor the local real estate market, at the Government Complex in Seoul, Thursday. Courtesy of Ministry of Economy and FinanceBy Lee Min-hyungFinance Minister Hong Nam-ki reiterated his strong willingness to minimize post-by-election instability in the local real estate market amid signs of a bubble in some speculation-prone areas.“A satisfactory housing supply can never be achieved independently by the central or regional governments,” Hong said during a ministerial meeting. “I hope the central government and local ones enhance cooperation in achieving this.”The message came a day after Oh Se-hoon of the main opposition People Power Party won the Seoul mayoral by-election, Wednesday.For the past few weeks after being named as the sole candidate for mayor by the opposition party, Oh has stepped up criticism against repeated attempts by the government to tame soaring apartment prices by bolstering regulations on mortgages and hiking taxes on multiple home owners.He pledged to ease tightened re

Apr 8, 2021By Lee Min-hyung
Finance minister warns of post-election housing market bubble
Economy

SKIET, Krafton, Kakao Pay set to go public in next few months

gettyimagesbankBy Anna J. ParkWhile some of the most-anticipated IPOs this year are expected to be completed within the next few months, SKIET, which produces lithium-ion battery separators among other components, will be the first major listing to take place in the second quarter.The firm will kick off the stock allotment and subscription process for institutional investors as well as retail investors near the end of this month. The initial offering stock price of the energy and chemical material arm of SK is set between 78,000 won and 105,000 won ($69 to $94), with its market cap estimated at around 5.56 trillion won and 7.48 trillion won.Based on its solid financial statements, the battery materials company is expected to draw an ample number of institutional investors from both in and outside of the country. SKIET logged 469.3 billion won in annual revenue last year, with a net profit of 88.2 billion won.With 213.9 million shares being offered for the IPO, SKIET could raise up to 2.24 trillion won if the stock's initial price is set at the maximum end of the price band. Mirae Ass

Apr 8, 2021By Anna J. Park
SKIET, Krafton, Kakao Pay set to go public in next few months
Economy

'Quantifying ESG performance crucial for sustainable growth'

Korea Chamber of Commerce and Industry (KCCI) Vice President Woo Tae-hee, front row fourth from left; head of the Industrial Policy Office of the Ministry of Trade, Industry and Energy Kang Kyung-sung, front row fifth from left; and SK Social Value Committee Chairman Lee Hyung-hee, front row sixth from left; pose with other participants during the 1st KCCI ESG Management Forum held at the KCCI headquarters in downtown Seoul, Thursday. Courtesy of KCCIBy Yi Whan-wooAny efforts and activities related to environmental, social and corporate governance (ESG) should be measureable as monetary value for the companies to better cope with sustainable growth, according to an expert.Speaking at the 1st Korea Chamber of Commerce and Industry (KCCI) ESG Management Forum, Thursday, Na Seok-kwon, president of the Center for Social Value Enhancement Studies, said quantifying ESG performance should be a “top priority.”“If you don't measure it, you can't manage it,” Na said, citing business management guru Peter Drucker. “It is important to be able to recognize where each

Apr 8, 2021By Yi Whan-woo
'Quantifying ESG performance crucial for sustainable growth'
Economy

KKR eyes YIDO for another eco-friendly investment here

Seen is YIDO's sewage management facility in Incheon. Courtesy of YIDO By Park Jae-hyukKKR is in talks with YIDO to acquire around a 50 percent stake in the Korean property management company for around 200 billion won ($180 million), according to industry sources and media reports, Thursday.Considering that YIDO has been focusing on the waste management sector lately, the latest negotiation is interpreted as part of KKR's efforts to increase environmental investments here.Last year, the global private equity firm (PEF) became the second-largest shareholder of TSK by taking over a 37.39 percent stake in the local sewage management firm for 440 billion won from SK E&C, Huvis and SK Discovery. This deal was signed a few months after KKR acquired controlling stakes in Eco Solution Group and its affiliate, ESG Cheongwon, for around 800 billion won from Anchor Equity Partners.What matters for the YIDO deal at this moment is the fact that its founder and CEO Choi Jung-hoo

Apr 8, 2021By Park Jae-hyuk
KKR eyes YIDO for another eco-friendly investment here
Economy

NPS set to invest more in ESG-active firms

Seen above is headquarters of National Pension Service in Jeonju, North Jeolla Province. YonhapBy Lee Min-hyungThe National Pension Service (NPS) is set to introduce tighter environmental, social and corporate governance (ESG) criteria for companies that it seeks to invest in. Under the tightened screening measures, the nation's largest pension fund will stop investing in any listed firm if it is found to have any problems involving the criteria. The NPS is set to introduce the move as early as the first half of the year. Details of the tightened screening measures have not been fixed yet.The NPS considered adopting such a strategy in 2019, as part of its bid to expand socially responsible investments.Also known as “negative screening,” the toughened criteria will be used by the NPS to avoid investing in so-called “bad companies” that do not meet social and environmental standards. The term contrasts with “positive screening” under which investors focus on expanding investments in companies that contribute to favorable social and environmental chan

Apr 7, 2021By Lee Min-hyung
NPS set to invest more in ESG-active firms
Economy

'Baby Shark' SmartStudy becomes 13th K-unicorn company

Image captured from SmartStudy's 'Baby Shark Dance' YouTube video / Courtesy of SmartStudyBy Anna J. ParkSeoul-headquartered education and entertainment content company SmartStudy, famous for its globally viral “Baby Shark” song, has been recognized as the country's 13th unicorn company ― meaning a private startup with a market value estimated at over $1 billion ― following in the footsteps of earlier K-unicorn companies such as Coupang and Woowa Brothers. While leisure reservation business Yanolja, online fashion portal Musinsa, car-sharing business Socar and grocery e-commerce Market Kurly are some of the other famous K-unicorns, SmartStudy is the first home-grown unicorn company excelling in the global content industry. According to the investment banking industry, as the company attracted a new round of pre-IPO investments worth about 30 billion won from Korea Development Bank (KDB) and Pureun Partners at the corporate value of 1 trillion won, which is five times higher than its previous round of investments a couple of years ago. Founded in 2010, SmartStudy has hit g

Apr 7, 2021By Anna J. Park
'Baby Shark' SmartStudy becomes 13th K-unicorn company
Economy

SsangYong Motor set to go under court receivership

SsangYong Motor's Tivoli vehicles are lined up for sale in Pyeongtaek, Gyeoggi Province, in this file photo on Feb. 3. YonhapBy Lee Min-hyungSsangYong Motor is likely to enter court receivership as early as today, as the Korea Development Bank (KDB), the main creditor of the cash-strapped firm, is set to approve court-led restructuring after the firm failed to secure any new investments. The move came after the ailing company de facto failed to sign an investment contract with U.S. car retailer HAAH Automotive, its latest negotiating partner, leaving the KDB with no other choice but to reach an agreement with the court over the legal procedure.“We are fine-tuning the details with some other creditors before submitting our opinion to the court,” a spokesman at the state-run lender said.Upon receiving an opinion from the KDB, Seoul Bankruptcy Court will start the restructuring process for SsangYong before the end of the week.Under the court-led restructuring, the company will be able to avoid filing bankruptcy only if it finds a new potential buyer. Given that HAAH was supp

Apr 7, 2021By Lee Min-hyung
SsangYong Motor set to go under court receivership
  • SsangYong halts plant operations on chip parts shortage
Economy

IMF revises up Korea's GDP growth forecast to 3.6% on robust exports

Finance Minister Hong Nam-ki speaks during an emergency economic meeting at the Government Complex Seoul on April 7, Wednesday. YonhapBy Lee Min-hyungThe International Monetary Fund (IMF) has revised up Korea's 2021 GDP growth forecast by 50 basis points to 3.6 percent, in a World Economic Outlook (WEO) report, reflecting on robust export growth and anti-coronavirus extra budget effects here.This is well above other projections from authorities here and abroad ― such as the OECD, the Korea Development Institute (KDI) and the Korean government ― whose forecasts ranged from 3.1 percent to 3.3 percent.With major economies across the globe showing signs of recovering from the COVID-19 shock, the IMF forecasts the Korean economy would also bounce back at a more robust pace on export upswing and other rosy economic indices here.According to data from the Bank of Korea (BOK) released Wednesday, exports here increased by 9.2 percent to reach $44.7 billion (49.9 trillion won) in February from the previous year.The Korean economy is heavily reliant on exports, with its trade dependency topping

Apr 7, 2021By Lee Min-hyung
IMF revises up Korea's GDP growth forecast to 3.6% on robust exports
previous page
846847848849850
next page

Most Read in Economy